US stock losses deepen- S+P further extends breakdown below 5,390 towards 5,300

The losses across the US stock markets have now deepened further and the Nasdaq 100 is still leading the way in percentage terms and the component crossover there has seen the S+P 500 hit hard too. Now you were warned several times this week (and last); that the markets were at risk of a deeper correction and most recently, earlier today; about the technical breakdown level in the S+P 500, at 5,390. Well, as you can now see, the index has fallen further after breaking below this level today. The index is now approaching the 5,300 mark, but it could still have further to run. The Nasdaq 100 has already suffered a 10% correction from its record highs, but what about the S+P 500? Well, in order to meet that, the index will have to fall by 567 points from its record high this year, at 5,669.67. That would target 5,102. The index is currently trading at 5,320